Soy Exports At 20-Year Low As Rain And Disease Plague Crops In Upper Midwest States [View all]

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In 2023-24, China bought 24.9m metric tons of soybeans worth $13.2bn, largely used to feed its 427-million-strong pig herd. At under 6m metric tons, US farmers’ second biggest international soybean market, Mexico, lags far behind. Since 2017, when tariffs were first introduced by President Trump, crop farmers have been struggling with the decline of China as the leading market for soybeans and an important market for corn exports.

Last month, reports emerged that exports of soybeans – America’s largest grain export by value – had hit a 20-year low. “Tariffs are probably something that will help in the long run, for the whole country; in the short run it’s terrible for farmers,” says Harbage. “We’re really taking it on the chin now because if we can’t export, our prices are low. And if we can’t export and we have a terrible crop then it’s a one-two punch. I see what the government wants to do, but it’s hurting me in the near term.”

Farmers and rural Americans are keen to highlight that their political and voting preferences are rarely fueled by a single issue or event such as tariffs. Many continue to back Trump, despite the obvious financial challenges the president’s policies are fomenting.

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“With [tariffs] in place, we are not competitive with soybeans from Brazil. Our marketing year starts 1 October and usually by now we’d see China making commitments to pre-purchases for soybeans. China has not made a single purchase for US soybeans,” says Virginia Houston, director of government affairs at the American Soybean Association, a lobbying organization. “No market can match China’s demand for soybeans. Right now, there is a 20% retaliatory duty from China.” To appease his farming base, the Trump administration announced $60bn in subsidies for farmers over the next decade in the recent tax bill, but that has drawn criticism from those who say that farmers shouldn’t be subsidized on taxpayers’ dime.

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https://www.theguardian.com/us-news/2025/aug/16/farmers-trump-tariffs-climate-change